New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-20

changes ruled weak all the week and declined III ster
ing sold at - s3 and 81 81 q respectively for long and
bills, but the special decline attributable to the
presence of large amounts OF sight bills drawn against
securities
Tho commercial and mercantile, as we'll as the inan-
Ssy @ Of the whole SGap ss ee
the collapse the coffee speculation the break up
I'm the wheat combination which was locking up one o.
the necessares Of life and checking tho free and
natural movements OF trade and commerce.
hut the country is poorer because II could not obtain
for its surplus wheat the fictitious value which CON
OF wheat exported in May taken at a nigh figure
but not at that established by the clique And now
Europe can buy from our granares at figures much
lower I'VE think will dispute ~ than would have
been touched there had not been such vast accumula
tons held back from their natural channels toward CON
sumption The wheat now will move forward rapidly,
and Europe wants it that is proved by the exports Of
100000 bushels at the high figures In May There Is
another side Of the retrospect that Is not without
the expense OF spectators and hence capital lost has
OF the wheat growing sections The farmer richer and
has more money to spend for articles of comfort
The exports for the week we're only s52s bales against
O2S bales for the week Of 1886. Cotton is IL
America is 347 900 bales, against 900 bales at the
same time in 1856; but the European sooks-Ameiican
200 bales. and the quantity passage 10 Europe
is 3S3OOO bales against 100000 bales the total visible
266i.ss7 baos juno IL. 1ssG-decrease, 599l7
bales And the new crop Is only SIX weeks away eIen
collapse for the cotton speculation like that IN wheat
but If such thing should happen it wOuld I'LL the for
eign exchange market full OF bills that there longer
would be question of gold imports 1t IL too early yet
for general trade to reflect the benccent effect OF the
speculative explosions 1t now Is sufficient subject 0r
cOngratulaon that neither nor both together In the
slightest degree even temporarily disturbing factors
during the two or three days Of uncertainty Passing
clouds at high noon as effective ON the suns light
Viewed from speculative point or view the STOCK TX
change markets last week subjected to severe
ordeal The monetary transaction before referred TO-
which for part of a day Withdrew large of money
from its usual vocation and which gave rise TO rum0rs
and fears of specaiive clock M the coffee failures.
former price for wheat and the attending failures were
well calculated TO crush Mt least fears OF disturbance at
the stock Exchange. But the stock Exchange markets
for several months have not belonged 10 the speculative
class. There has been no speculation except on the
bear" side and hence there no speculation 10
harm. There was no lack of efforts to make bear ar
gumeuts OF the incidents referred TO- and Mi he de-
vices known TO manipulation were employed TO depross
valuesi But stocks did not come out. Except LOT mere
and there fancy and for fewOl the STOCKS III when
Chicago operators were speculativcly interested:
the declines did not exceed the fluctuations OF
the preceding week. Naturally Chicago threw over
board its stocks. but as II had no competition III the sell
what hal SELL which the next day reinforced by
important European orders Tor the purchase or certain
classes of stocks The total OF stocks amounted
only to 12972l3 shares against 1.l535s5 shares FOR
the preceding week. This fact alone speaks volumes
10 the character OF the market and the speculative Sit
uatiOn. Notwithstanding the extreme dunesS. prices
generally made good recOveres, 30 that with few eN
ceptons the final changes are in the small
fractions; and there are more important advances
than material losses That Is the whole story
OF the weeks market-of causes and effects. Perhaps
the continued large gain I'm railway earnings ana the
practical settlement OF the intent OF tee Interstate Com
inerce law interpreted Dy the commits sonerS. may
produce other effects now that disturbing factors are so
well removed.
suhoned IS our usual table giving the highest lowest
and final prices and number of shares sold for the week.
together with the final prices OF wook ago OF seventy
fOdr active representative stocks, prehHed by the
prices OF June 10, 1856:
WEEKLY RANGE.